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A price ceiling is defined as a maximum price for a good set below the market equilibrium price, typically to protect the consumers of that specific good. Rent controls in the housing market are an exampl...

In this scenario, it would be suitable to use some Keynes. There are two parts to this. The first part is lowering taxes and increasing government spending. The second part is decreasing interest rate. By...

Intro: define depreciation and economic performance

Analysis: depreciation leads to increase in exports (less expensive in comparison to foreign goods), and decrease in imports (more expensive in c...

In competitive markets, the free market mechanism is in most cases the most efficient. However sometimes, these markets fail indicating a requirement for government intervention. The most famous example i...

1. Legal barriers. Some monopolys are granted their status as monopolys by government for a fixed period. For example, Camelot who operate the National lottery are granted the power to be the sole supp...